Besent: Ukraine's attack on Russian energy facilities and Iran conflict lead to global energy price increase

US Treasury Secretary Bessent stated that Ukraine's drone attacks on Russian energy facilities and the Iran conflict are the reasons for the global rise in energy prices. The crackdown by Ukraine has forced Moscow to extend its ban on diesel exports until the end of this month, coupled with lower fuel shipments through the Strait of Hormuz, leading to a tightening of global supply. Besent stated that the oil pipeline will help energy suppliers bypass the Strait of Hormuz, which will become irrelevant in the coming years as suppliers develop other energy routes.